Settle debt with collection agencies for pennies on the dollar
Once a debt is sold to a collection agency you have a chance to settle the debt for a lesser amount, often pennies on the dollar. Most debt collectors just want the money asap.
Debt Solutions
Duplicate negative accounts on credit reports will crash a credit score
Credit scores can take a dive if you have duplicate negative information reporting because it appears that you have more DEBT than you actually have
Debt settlement can hurt credit scores
Debt settlement can hurt credit scores because having late payments are essential to settlement, creditors are motivated to settle when you have multiple lates
Can medical debt past the statute of limitations be pursued by a debt collector
Medical Debt: Most debt has a statute of limitations which means at some point it becomes legally uncollectible. Debt collectors can continue to pursue payment but have no leverage.
Avoid being a victim of Phantom Debt, especially payday loan debt
Junk debt buyers may be engaging in phantom debt, collecting payments from consumers for debts that are nonexistent. or illegal to collect.
Steps to take for unknown medical collection accounts on credit reports
Medical debt collectors looking to collect on older accounts often don’t have any documentation to prove you owe the debt. It’s important to challenge medical collection accounts. If you want to pay, contact the original medical provider.
Remove accounts that are past the credit reporting time period
Original creditor is no longer reporting an account to the credit bureaus but debt collector is reporting new dates on the account. This action is re-aging an account which is illegal.
Debt Collector Threats: Dirty debt collector threatened to take child away
You have the right to stop the debt collector threats and stop debt collectors from calling and writing you. But that does not eliminate the debt.
Debt Validation: Should you help provide proof a debt is owed
When a debt collector asks you to provide proof you owe a debt, don’t. It defeats the purpose of the debt validation process.
Disputing an old account can trigger a new debt collector
Disputing an old collection account can trigger the collection agency to renew their collection efforts or sell the debt to a new debt collector.